Fidelity

Category: Brokers

Fidelity offers a full range of financial products to help you with all your financial needs no matter where you are in life. Whether you are investing, planning for and living in retirement, or just saving for college we have a solution for you.

Fidelity is convenient. I manage all my retirement, savings, and checking accounts through Fidelity and am very pleased. The customer service is very professional. There are plenty of products available for the average investor. The website is a bit dated and requires some getting used to. But they are actively working on improving the user experience. I do like their probability tools. Fidelity is not going to be your go to brokerage firm for active trading simply because it's not their core mission. However, Fidelity is a very safe place to invest with plenty of investments products available to help grow your long term portfolios.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

I use Fidelity for managing retirement accounts and am very pleased. The customer service has always been very professional and very helpful. There is an adequate amount of products available for the average investor. I've enjoyed using the website tools and calculators but the website design is cumbersome and it's hard to find what you are looking for. Aside from that, Fidelity is overall a great place to manage investments

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

Easy to understand system, very straightforward, commissions are not as pricey as TD Ameritrade or Etrade.

Cons:

I am an options and stock intraday day trader and I noticed that their system wasn't too friendly or too suiting for my trading style, easy to understand system but yet too many buttons which slowed me down considerably, anytime I exited a trade I had to wait several days to access my money because I had to allow my account to settle.

I would say in my opinion, that Fidelity is a great brokerage for individuals who are holding for the long term, it seems to cater more to them, than the short term day traders like me.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

You should take a look at the filtered review by the pro trader and the review by matt c. There are major problems with Fidelity and options. The biggest problem is position adjustment. Any option trader knows that adjustments can save a trade that went the wrong way. It is the most horrible feeling to watch a position continue to lose money because Fidelity has tied your hands and won't allow you to fix it. Let me explain.

While you can easily construct an Iron Condor, for example, with Fidelity, you cannot easily adjust it. Why? Because Fidelity's interface will not allow you to close one side of the Iron Condor. They force you to close each position individually. Let's say you put on a RUT IC. You simultaneously buy and sell both put and call options to construct the IC. A week later RUT takes off and you need to adjust the call side. Fidelity will not allow you to close the long and short call options as one transaction. You will need to sell the long as one transaction and buy back the short in another.

Plus, depending on the size of your account, you may find out that Fidely won't allow you to complete one of these transactions because of their margin algorithm. The margin algorithm does not seem to understand options, or that by preventing you by closing both legs it is actually increasing the risk. Also, Fiedelity does not seem to care about whether your options are European or American, meaning if they can be called before expiration or not. The margin algorithm will threaten to liquidate some of your positions even if your options can't be called early if they feel there isn't enough cash in your account to cover the supposed risk.

I questioned this and was told, basically, although you may like it to work differently, it works as designed.

I moved my account. Lesson learned.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

prices suck for the features. stick to TD Ameritrade or similar. for $8 for 1000 shares + .0015 per additional share, you would expect the best technological features around but fidelity lags behind TD and others for retail trading.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

I had accounts with Fidelity for several years and was impressed with what they offered. Their commissions have consistently been lower than other brokers. It's a similar story with their mutual fund management fees. A lot of Fidelity's funds are actively managed as opposed to other fund complexes that keep costs low by indexing.

The other thing I will say is that their customer service is superb. You can get a person on the line any time of the day or night, no matter where you are.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC

Fidelity is great on the eyes, but the rates are meh. I've been using them for a little bit, I do like they compete pretty well with TOS, since TOS is pretty shady with their alerts. But anyhow, thought i'd drop a review for Fidelity. Hopefully they can compete better on rates moving forward.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC